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Welcome
to Homefront News, a quarterly newsletter presented
by Bernie Saul, President, Equitylink Mortgage, Inc.
Archives
September,
2002
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The
Best Pricing in Colorado:
5 Year Arm at 5%
30 Year Fixed Jumbo - 6.0%
30 Year Fixed Conforming - 5.625%
15 Year Fixed Conforming - 5%
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Interest
Rate Insights
Last
year, the Federal Reserve reduced interest rates
11 times to stimulate the economy. This year there's
talk of raising rates to ensure the economy doesn't
overheat. While they may make headlines, interest
rate ups and downs should be expected over time-rates,
after all, are tied to the economy's ebb and flow.
Interest
rates tend to change as economic conditions change.
They generally fall during periods of economic
weakness and rise when growth is strong and business
want to borrow for expansion. Those changes, in
turn, can impact bond prices which drive mortgage
rates. As bond prices decline, mortgage rates
will rise, and conversely.
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Inside
this Issue:
Interest
Rate Insights
Lawn Care Tips
Hot Tip
Rental Property Depreciation
Fire Safety
Sleep Tight
56 Signers of the Declaration
Thanks to Referrals
Credit
Bureaus
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Lawn
Care Tip
If
your lawn shows the stress of this dry summer, you can
revive it quickly by doing two simple things.
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Have your lawn aerated immediately. The aeration holes
allow water to penetrate deep into the root system.
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Fertilize it right after aeration. You might consider
having your aeration contractor perform the fertilization.
They know what to use at the given time of year. In
any event, a fertilizer that is high in iron content
will green it right up. Be sure to wash the fertilizer
off the sidewalk and driveway to prevent ugly rust
stains.
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With
home prices on the decline, the next six months
should offer some smart buys for those interested
in investing in real estate. I expect that December
and January will reveal some highly motivated
sellers. That coupled with record low rates, may
equal profit.
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The
Conforming Loan Limit of $300,700 is the break point
before loans fall into Jumbo rates which are at a higher
rate.
The
FHA loan limit in metro Denver is $239,500.
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RENTAL
PROPERTY DEPRECIATION
Q.
When do I start to depreciate my home as a rental property?
A. You must place your home in service as a rental
to trigger depreciation. To convert your home to a rental
property and place it in service, you must:
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Move out.
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Have the property available for occupancy by the tenant.
- List
the property for rent.
Depreciation
starts the day you accomplish all three of the above.
Q.
What if it takes me four or five months to
find my first tenant, do I depreciate the rental home
during the vacancy period?
A.
Yes! You start depreciation on the day you place the
property in service as a rental.
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Whatever
happened to the 56 men who signed the Declaration of
Independence?
Five
signers were captured by the British as traitors, tortured
and killed. Twelve had their homes ransacked and burned.
Two lost their sons serving in the Revolutionary Army,
and another had two sons who were captured. Nine fought
and died from wounds in the Revolutionary War.
They
all pledged their lives, honor, and all of their possessions
in the revolutionary effort. What kind of men were they?
Eleven were merchants, nine were farmers and plantation
owners, and twenty four were lawyers and jurists. They
all knew that the penalty would be death if they were
captured.
Carter
Braxton saw his fleet of merchant ships destroyed by
the British. He sold his home to pay his debts and died
in rags. Thomas McKeam was pursued continually by the
British and forced to keep his family in hiding. He
lost all his possessions.
Soldiers
of fortune looted the properties of Dillery, Hall, Clymer,
Walton, Gwinnett, Heyward, Ruttledge, and Middleton.Francis
Lewis's home was destroyed and his wife jailed, where
she died in a few months.
John
Hart was driven from his wife's bedside as she was dying.
Their 13 children fled for their lives. His fields and
gristmill laid to waste. For more than a year he lived
in forests and caves, returning home to find his wife
dead and his children vanished. A few weeks later he
died from exhaustion and a broken heart. Norris and
Livingston suffered similar fates.
As
we know all too well...freedom has never been free...and
it never will be without a human price.
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Fire
Safety
If you had a medical emergency or fire in your
home, would the fire department be able to find
it quickly in the dark? Be sure to place large
house numbers near exterior lighting, and always
leave your outside lights on at night.
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Sleep
Tight…
Many
people today occassionally suffer from mild forms
of depression, anxiety, and insomnia. These ailments
can zap energy and cause the sufferer to feel
tired, and sluggish.
If
you have trouble sleeping at night, and wake up
feeling tired and exhausted, a new over-the-counter
supplement may be the answer you're looking for.
It
is called 5-HTP (5 Hydroxy Tryptophan). 5-HTP
helps create the important neurotransmitter serotonin,
which regulates vital processes in the body, including
sleep, emotional stability, pain sensitivity and
addictive cravings. When levels of serotonin drop
too low, a vast array of symptoms, ranging from
anxiety and insomnia to obsessive/compulsive behavior
can occur.
Researchers have found 5-HTP to balance moods,
cut time to fall asleep in half, reduce aggression
and appetite, create a more relaxed waking state,
and increase pain threshold.
Unlike
sedatives, 5-HTP is not associated with unwanted
side effects. The normal dose is 100mg per day.
Before using 5-HTP, consult your doctor.
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A
Special Thanks for Referrals From:
- Randy
Brown
-
Kelly Jurgemeyer
- Mary
Beth White
- Marcella
Johnson
- Cameron
Pope
- Todd
Thacker
-
Gary Houghton
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- Dianne
Schulte
- Bob
Mager
- Dy
Pritchett
- Aaron
Connor
- Larry
Ray
- Kevin
Ehlers
- Randy
Stueber
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When
your friends or family are discussing home
financing,
Do them a favor…
Suggest that a call to EquityLink will save
money and stress.
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Understanding
Your Credit Report
To answer all your questions about your credit report
and how to improve your score, visit www.privatelessons.net/credit.asp.
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National
Credit Bureaus:
Transunion
PO Box 1000
Chester, Pa. 19022
800-888-4213 |
Equifax
P.O. Box 105873
Atlanta, GA 30348
888-841-7335
www.equifax.com
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Experian
PO Box 2002
Allen, Tx. 75013
888-397-3742
www.experian.com
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